Archives for December 2012

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Binary Trading the AUDUSD MidWeek

Trading during the Christmas week is always exciting. That was a joke. If you’ve watched the markets for the past few days around the Christmas holiday, you are aware of the boring price action. A lot of traders have probably been faked out in their trades all week. We keep mentioning that you are better off taking the time off from trading while focusing on other things. We aren’t forcing trades, but we definitely haven’t seen anything perfect either.

Since price action was so boring on the EURUSD, we started looking at trades on the AUDUSD. The Aussie is usually a pretty boring currency to watch, but this morning it was showing movement to the pivot point. As price was coming down to pivot for a second run, we took our call option. Price fluctuated with and against us the whole time, but closed out in favor by half of a pip. This trade never had much momentum. Soon after the trade was complete price went down further with [Read more…]

Binary Trading Wins for the Holidays

A great trade to close out the Christmas eve holiday. Trading at 24options today worked out really well considering the end result. Price action was working in our direction and still is an hour later. At this point, price action is all the way down to our 1.3200 purple line. It consolidated for about 1 minute before pushing back up, making a good call option at this level if you were still trading today. Although we took our trade today we were not completely comfortable with price action because of the holiday. We recommend that you don’t trade today or tomorrow as well as be very careful the rest the week due to the slow price action that may incur.

For today’s trade we watched how price action was forming nice wicks to the North Side. This means, any time price would challenge this particular price point we could take a put option. In this case, we watched how price moved up a wick that occurred about 20 minutes prior. Price only [Read more…]

Trading Binary Wicks

Trading choppy markets is usually not that great. We were fortunate enough to catch a trade in this mess. The direction of the trend was flat leaning to the south side. We weren’t going to force a trade, but this was one trade that looked the best on paper. The charts will tell you a story and in this case the story was let’s keep faking to one side and then the other. This is why we took a call option near the lows of the day. Hope was for price to come back up to the 1.3200 level.

Price was coming down to a low that we announced yesterday on twitter. The 1.3200 was in play, but the wick formed below there. Price then extended passed that forming a deeper wick. Many hours later the price dropped to that level and we decided to take [Read more…]

EURUSD Seeing Nine Month Highs

If you were up early this morning, you were able to witness the EURUSD climb to new highs. We haven’t seen this price level in nine months. Although the price was strong move to the whole number of 1.3300 it did decide it needed a break. Price hit this level and has pulled back ever since. Over the next few hours price dropped almost halfway between whole numbers of 1.33 and 1.32.Last night that price action could get down to 1.3200, but it never actually went that far. Price is at recent lows right now and has a chance to get down there by the end of the day or tomorrow. We will keep an eye on this trading market and only trade the best possible setups.

The trade we took today was on a recent pullback trading with the trend. Yes prices were falling for the last couple of hours, but we wanted to still stick with the trend. Anytime you go against the trend you’re risking another catalyst against [Read more…]

How About an Apple Binary Option

A little change of pace to start the week at I noticed how the price action on the Euro-dollar was quite boring this morning. Price had been sitting in a channel that was too tight to trade and if you entered one of those particular trades you most likely would have been chopped out. This is why I started looking at the stock market. The markets were opening up pretty strong and it put my attention on a few stocks. This wasn’t something I had planned, however I have been seeking new instruments to trade on the binary options market.

The US markets were opening up strong. Immediately I opened an Apple stock chart on my metatrader platform. I wasn’t able to determine if there was a slight delay between the price action on the charts and on the broker. Over the next couple weeks I will look into this more clearly and determine [Read more…]

Picking the Strong Trade Setups

It’s amazing how Friday trading can either be really exciting or downright boring. The EURUSD is trying to figure out what is happening with the fiscal cliff in the United States of America. This price action is dictating a lot of northerly moves lately, giving the Euro a lot of strength. We continue to watch the price action on this currency pair and trade what we see based on our support and resistance levels. We are not forcing trades on either side.

Today’s trade started around 8:45 morning. Watch how price action had dropped from resistance two all the way to the pivot line. This price action allowed us to think about getting into a call option at the pivot for our [Read more…]

Trading the EURUSD

We’ve gone over this many times before; finding the best trade is your best bet when it comes to binary options trading. Sometimes it takes a while for good trades to occur, but these are the trades that will work versus trying to guess something that you have no clue what it will do. Price prediction is what trading is all about. In today’s case, we were seeing the rise of the EURUSD this morning. It was up to us to find a trade to go against the trend or with the trend. There comes a time when trading with the trend is your best option knowing that you have the momentum with you.

Today’s trade saw price come off the price point of 1.3042. This purple line was listed on our [Read more…]

Monday Binary Trading is All Good

After a great weekend it can sometimes be tough getting back in the groove. We tried to find the best trade possible every day, but on Monday especially, is one trade we want to get off on the right foot. Price action opened up pretty sour this morning to the south side. The EURUSD gapped down nearly 30 pips from the close of Friday afternoon. This led to the price action movement to the north side from the lows of the day. Throughout the night price climbed the gap before pushing higher through the pivot level. Price then formed a new high for the day before retreating back down close to the pivot.

The trade we took today was price moving back up into the highs of the day. We noticed how price had been weak all morning and for price to continue to the North Side it would need some significant strength. The past two days the EURUSD has been beaten down pretty good giving a potential move to the north side. It was still in play at this particular time that a trade reversal could come into effect. [Read more…]

Tricky Binary Trading

After several hours of boring price action the EURUSD decided to fall off a cliff. Actually it has fallen quite a bit this morning from the pivot level, all the way down past Support level three. Our purple line of 1.3000 is in play today and should be interesting to watch over the next few days.

We were watching a price action trade setup against the trend. Being such a weak market we needed to make a good decision and not force the trade. If price were to move to the the north side at this point, then we could consider put options all day which is with the trend. If you are jumping in on a trade against the strong trend it is definitely important to have something on your side besides just a line. Price is weak and could stay weak all day. Don’t get stuck.

We entered our trade as price was pushing through the purple line of 1.3000. We didn’t want to force our entry into a call option based on the weakness the Euro was facing. Although we did not have other catalysts helping us make our decision, we knew a call option would be our best bet at these lows. There weren’t many opportunities for put options based on the retracements of this significant move to the South side. [Read more…]

Getting Back to Business

It’s not only good to start the week off right, but to start the month off in the right direction. Getting into the last month of the year always makes you want to make as much money as possible. This is the month where you figure out whether you’re current trading techniques are working in your favor. This will allow you to continue your success or let you evaluate what is not working. We were seeking trades this morning based on the heavy price action to the north side. This particular price has been moving up into new high areas since September. Several trade setups occurred throughout the night and will occur the rest of the week. In today’s trade we were fortunate to bring in another purple line that was plotted many months ago.

We were looking for a trade at Bank de binary this morning working against the trend. At first we were seeking call options, but nothing set up in our favor to make it worthwhile. [Read more…]